I agree, the companies that highly value degrees may not be the kind you want to work for, you can make it without a degree but long term it's best to pick one up along the way even if it's just from doing part time classes while working
I would test ability and if I couldn't decided between two candidates, I may take a look to see if you have a degree from a respected school.
If you want to be in startups, I have friends that have applied and started jobs without being asked about educational background.